Uranium One's Mantra Tanzania aims to launch Mkuju River mine next year

Uranium One Inc. subsidiary Mantra Tanzania said today that it aims to start construction work on its Mkuju River uranium mine in southern Tanzania in 2013. The company hopes to become one of the top ten uranium producers worldwide.

"It will take a two-year period for completing construction work before we start to produce uranium oxide," Mantra Tanzania managing director Asa Mwaipopo said. He noted that the site has an updated resource of 119.4 million pounds (54,159 tons) of uranium.

The Mkuju River project is still waiting to receive an environmental impact assessment certificate and final approval.